Mumbai: cloudBuy and SYNISE announced the India's new marketplace leader on the London Stock Exchange. The partnership will have15,000 supplier (5x the previous leader) and $ 2 billion of volume going through the system.
CloudBuy are a leading global B2B marketplace who recently extended their partnership with Visa Asia Pacific for a further 5 years. They have already have over $ 500 billion in B2B spend on their analysis platform and have created a number of leading marketplaces around the world.
SYNISE is a leading procurement service provider in India, part of the $ 2.5 billion turnover Kalyani group. SYNISE was the first Pioneer Company to provide MRO (Maintenance Repair and Operations) Services back in 2005, and is now the first again into B2B ecommerce leveraging the 15,000 suppliers and 80 major buyers that already interact electronically through its sourcing platform.
SYNISE expect the marketplace to transact $ 2 billion and this will make it the market leader, however this is a small percentage of the potential B2B volume.
Ronald Duncan Chairman of cloudBuy is going to launch cloudBuy in India this evening as the first leg of his "Peak Performance Program" tour. He will explain how cloudBuy can provide 10x sales to companies through global ecommerce along with significant 10-20% increases in profitability and highlight examples of customers that have saved $ billions using the system.
He is a double Olympian and he will explain how the speed at which top level sport improves can be applied to business. Naturally cloudBuy has the technology to deliver this fast performance improvement.
Ashok Dani, CEO of SYNISE commented: "The Gulf states are India's largest trading partner and we have the largest group of vetted high quality Indian suppliers. We believe there is immense potential in providing these suppliers with B2B ecommerce so that they can easily export to the world, at the same time as making their Indian business more efficient."
The partnership aims to not just provide India's largest marketplace but to also help India achieve its national goal of becoming the world's leading economy by supporting the 'Make in India' campaign. The Gulf States are India's largest export market, and cloudBuy expects that the partnership with SYNISE combined with the progress made in the Gulf states could provide a major uplift in Indian exports to the region.
Ronald Duncan, Chairman of cloudBuy commented: "Having come directly from meetings in the United Arab Emirates where we have opportunities that are a perfect synergy with the “Make in India” campaign, it was great to immediately finalise a deal that will support Indian exports to the Middle East and the rest of the world”
